On 407–409 Greenwich Avenue, a geothermal heating and cooling system is being installed to facilitate energy-efficient climate control. This climate control system is for a three-story,12,000-square-foot celebrity chef restaurant that is being built where the Thataway restaurant used to be.
This project is being run by the JCM Construction Group of Stamford. The system will utilize a 500-foot-deep geothermal well which will be situated underneath the new celebrity chef building.
The net financial benefits of geothermal can be debated, but the result is always dependent on the nature of the situation. These systems provide the best return on investment at locations in which they will be used for more than 15 years.
“When you look at geothermal for a home, it is much harder to make the economics work unless you plan to live in the home for over 15 years. In this case, however, the instant utility rebates, tax rebates and accelerated depreciation alone make it attractive,” Shaw said in a statement. “The increased revenue is just the cherry on top,” he added.
Geothermal heating/cooling systems operate by exchanging heat between the air in a building and in the soil. Geothermal power plants operate a bit differently. They tap into extremely hot areas under the ground in order to provide significant amounts of heat to boil water and produce steam to eventually drive steam turbines.
These systems take advantage of a fairly constant temperature underground which is neither too hot nor too cold in order to keep the temperature in buildings in an acceptable range.
During winter, the soil at the depth of the geothermal coils is still warm, and it warms a fluid which is then passed through radiators in the building to heat the air.
During summer, the weather is often hotter than that same area down in the Earth, so the system ends up absorbing heat from the hot summer air and carrying it away down into the Earth.
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